US markets choppy ahead of the Memorial Day weekend
Dow Jones 30
The Dow Jones 30 went back and forth during the trading session on Friday, as traders were probably focusing more on the Mario day holiday than anything else. I think that short-term pullbacks offer buying opportunities though, and I believe that if we break above to a fresh, new high, the market should continue to go much higher as it would break through a significant amount of noise. Ultimately, I think that the 24,500-level underneath should be support going forward.
NASDAQ 100
The NASDAQ 100 has dipped during the day on Friday, only to turn around and find plenty of buyers. It looks as if we are going to make a serious run towards the 7000 handle, and if we can clear that level it’s likely that we could go to the 7200 level above which was the most recent high. I think 6900 underneath should manage to be pretty supportive as well, so I look at these pullbacks as a buying opportunity to take advantage of value in a market that seems well supported. In fact, out of the three major indices that I follow in the United States, the NASDAQ 100 looks to be the leader and very likely to continue to push this market to the upside. Otherwise, it will continue to be very noisy and it is a “by on the dips” type of situation. Remember both of these indices are going to be closed on Monday, although the CFD markets may be open.
Dow Jones 30 and NASDAQ Index Video 28.05.18
This article was originally posted on FX Empire
